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ENR’s Construction Industry Confidence Index fell four points this quarter, to a rating of 40. Confidence in the current construction market is virtually unchanged, but execs have become more pessimistic about the short- and medium-term future.

Prices for used construction equipment have continued to show signs of stabilizing over the last few months, a trend also seen in other heavy equipment categories.

Despite inflation, labor shortages and other troubles plaguing the construction industry, some sectors continue to thrive, but others face difficulties as demand for growth slows.

Energy contractor Petrofac, with new CEO Tareq Kawash, will execute contract to expand the large Habshan gas processing complex in Abu Dhabi, one year after its suspension ended in UAE, Iraq and Saudi Arabia related to bribery incidents by former executives.

Terms were not disclosed of the civil settlement with plaintiffs, but it "will allow LAN to put this matter behind them and focus on their future," an attorney says.

Canada-based SNC Lavalin Group, the parent of Atkins, said the sale when completed will further speed the corporate transition to engineering and project management.

Coolidge gas power plant project, delayed one year by community legal action over air pollution impacts, now is set to double in capacity after a new settlement—but that is a decrease from the originally proposed 820-MW expansion that a Kiewit Corp. unit was hired to build.

New York City, San Francisco lead project consultant's latest list for highest global building costs, with six US markets in the top ten of 89 surveyed.

As interest rate hikes slow market inflation, more owners turn to third-party managers to weigh project costs and seek savings.

Consulting giant gains a foothold in $88B construction program management market.